LSM continues to show robust growth during July – October, 2017

Overall Large Scale Manufacturing Sector has shown growth of 9.64% during July-October 2017-18 when compared with the same period of last year.

Year on year Overall Large Scale Manufacturing during the month of October, 2017 increased by 8.77% against 5.59% during October, 2016. The major contribution came from Ministry of Industries with 5.9% coming in from the production growth in Industries. Followed by Provincial BOS contribution which helped the LSM Growth by 2.69%.

Production during the cumulative period spanning July – October 2017 – 18, grew by varied margin in sectors including: Food +2.07%, Beverages & Tobacco +2.07%, Coke & Petroleum Products +1.06%, Non Metallic Mineral Products, Automobiles, and Iron & Steel Products as compared against the same period last year.

The country’s LSMI Quantum Index Numbers (QIM) was recorded at 135.95 points during July-October (2017-18) against 123.99 points during July-October (2016-17), showing growth of over 9.64 per cent, according to the lastest data of Pakistan Bureau of Statistics (PBS).

The highest growth of 5.90 percent was witnessed in the indices monitored by Ministry of Industries, followed by 2.69 percent growth in the products monitored by Provincial Bureaus of Statistics (PBOS) and 1.06 growth in the indices of Oil Companies Advisory Committee (OCAC). On year-to-year basis, the industrial growth increased by 8.77 percent during October 2017 as compared to same month of last year, while on month-to-month basis, the industrial growth increased by 5.59 percent in October 2017 when compared to growth of September 2017, the PBS data revealed.

Meanwhile, the major sectors that showed growth during July October (2017-18) included textile (0.70 percent), food, beverages and tobacco (14.24 percent), coke and petroleum products (15.67 per cent), pharmaceuticals (2.93 percent), chemicals (2.29 per cent), non-metallic mineral products (13.03 percent), automobiles (28.40 percent), iron and steel products (44.39 percent), electronics (65.03 percent), paper and board (7.56 percent), engineering products (15.29 percent) and rubber products (4.14 percent).